? Are you one of thousands with no
credit and no collateral to help secure approval, or you just
have extremely bad credit and no one wants to help you, and all
you hear is stories and more stories?
Bad credit is a term used to describe a poor credit rating.
Common practices that can damage a credit rating include making
late payments, skipping payments, exceeding card limits or
declaring bankruptcy. Bad Credit can result in being denied
credit.
Bad credit can result in a negative rating from the credit
reporting agencies. Many factors can contribute to someone
getting a "bad credit" rating, among these are non-payment of an
account or late payments over an extended length of time.
Whether non-payment of an account is willful or due to financial
hardship, the result can be the same, a negative rating which
will result in a low credit score. However, lenders are more
willing to work with individuals if the person contacts the
lender to let them know they are having problems meeting their
commitment to pay. 100% Online Debt Relief! No Phone Calls! You
must have at least $2,500 of total debt over two or more
accounts to qualify for our Help. Name, email, and Zip Code are
required. US Residents only. No phone call required - all
customer interaction is done online!
Christian Debt Consolidation Services Professional Debt
Consolidation with a Christian perspective. Lower monthly
payments. Reduce or Eliminate High interest rates. Apply now for
a FREE NO-OBLIGATION QUOTE!
Fast Loans Online by DrCredit We are currently able to provide
auto loans, mortgage loans, debt counseling, home equity,
refinance loans, debt consolidation loans, personal loans and
much more...
A credit score is defined as a statistical method of assessing
an applicant's credit worthiness. An applicant's credit card
history; amount of outstanding debt; the type of credit used;
negative information such as bankruptcies or late payments;
collection accounts and judgments; too little credit history,
and too many credit lines with the maximum amount borrowed are
all included in credit-scoring models to determine the credit
score.
Raising your credit score is possible. It's a well known fact
that lenders will give people with higher credit scores lower
interest rates on mortgages, car loans and credit cards. If your
credit score falls under 620 just getting loans and credit cards
with reasonable terms is difficult.
Here are five things that you can use to raise credit score.
1. Correct obvious mistakes.
Your credit score is what shows up in your credit report. Review
your reports from all three credit bureaus for accuracy once a
year as well as several months before applying for a loan.
Changing a mistake on your report can take 30 days to three
months, or more. Get Your credit report from the three major
bureaus: Experian, Trans Union and Equifax.
2. Pay Your Bills On Time
Your payment history makes up 35% of your total credit score.
Your recent payment history will carry much more weight than
what happened five years ago.
Missing just one payment on anything can knock 50 to 100 points
off of your credit score.
Paying your bills on time is the best way to get started
rebuilding your credit rating and raising your credit score.
3. Reduce your credit card balances.
A heavily weighted factor in your FICO score is how much money
you owe on your credit cards relative to your total credit
limit. Generally, it's good to keep your balances at or below 25
percent of your credit card limit, said Jeanne Kelly, founder of
The Kelly Group in Brookfield, Conn., which helps clients
improve their credit scores.
4. Don’t Close Old Accounts
In the past people were told to close old accounts they weren’t
using. But with today's current scoring methods that could
actually hurt your credit score.
Closing old or paid off credit accounts lowers the total credit
available to you and makes any balances you have appear larger
in credit score calculations. Closing your oldest accounts can
actually shorten the length of your credit history and to a
lender it makes you less credit worthy.
If you are trying to minimize identity theft and it's worth the
peace of mind for you to close your old or paid off accounts,
the good news is it will only lower you score a minimal amount.
But just by keeping those old accounts open you can raise credit
score for you.
5. Avoid Bankruptcy
Bankruptcy is the single worst thing you can do to your credit
score. Bankruptcy will lower your credit score by 200 points or
more and is very difficult to come back from.
Once your credit score falls below 620, any loan you get will be
far more expensive. A bankruptcy on your credit record is
reported for up to 10 years.
The reality of a bankruptcy is it will limit you to
high-interest lenders that will squeeze out high interest rate
payments from you for years.
It is better to get credit counseling to help you with your
bills and avoid bankruptcy at all costs. By getting credit
counseling instead of declaring bankruptcy you can raise credit
score over a much shorter period of time.
Related Articles
How to Size an Emerging Market in Your Business Plan
By: Jitender Sharma | 17/03/2008 | Management
In developing their business plans, companies of all sizes face the challenge of determining the size of their markets.
Business Planning for College Students and First-time Entrepreneurs
By: Diya sood | 25/03/2008 | Stress Management
More and more students, both in undergraduate and graduate institutions, are deciding to launch their own ventures upon graduation rather than taking the traditional route of working for another firm. Likewise, more and more individuals are leaving their jobs to fulfill their entrepreneurial dreams.
How a Decision Can Save Your Life
By: Rahul Chauhan | 28/03/2008 | Management
Mr. Galen Litchfield, the manager of Asia Life Insurance, was in Shanghai when Japanese troops invaded. This was in 1942, after the invasion of Pearl Harbor.
The Art of Employee Motivation
By: Bhavna sharma | 30/03/2008 | Management
If you think that your employees’ poor performance on their designated jobs is costing you a whole lot of loss profits, then instead of just doing a total overhaul of your employee roster, why not try to do some employee motivation tactics to get them to actually come around and be able to save your company from looming bankruptcy. It really is fairly easy and simple to rouse some employee motivation, you just have to take these techniques to heart:
The Do’s and Don’ts of Giving Feedback
By: Anidhanta | 28/03/2008 | Management
Being able to give effective feedback is not just a good skill to possess in business, it is a great life skill to have. Because when you are masterful at giving feedback, not only can you help your employees to sustain continuously improving performance, you can also improve the performance of the baseball team you coach, the cleaning lady at home, or the performance of your own children on completing their chores
One of the Best New Business Opportunities May be Right There in Your Home - a New Daycare Business
By: manoj kumar | 05/03/2008 | Management
The day care industry is expanding. There are now more than 100,000 licensed child-care centers and 250,000 licensed family day care homes across the United States.
Why Start Your Own Work at Home Business Opportunity? Here's Why!
By: Manbeer Singh | 11/03/2008 | Home Business
Would you like your own work at home business opportunity? People choose to work from home for several reasons including the desire to stay home with their children, the need for extra
income, or simply being dissatisfied with their current job.
Checklist for Starting a Business
By: Dolly Kapil | 21/03/2008 | Business
Use this comprehensive checklist to plan each step of your new business and transform your dream of entrepreneurship into reality. These steps may not necessarily be completed in the order listed; however, you can use them as a guideline for completing all of the necessary business startup tasks.
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Does anybody have any questions concerning Supply Chain Management NVQ's level 2 - 5 ?
By: Spearflex | 09-07-2008
Does anybody have any questions concerning Supply Chain Management NVQ's level 2 - 5 ?
Discount stores
By: Garima | 03-07-2008
would a discount sore located in a far flung sparsely populated area do well?give reasons.
How does a Firm reconcile its internal and ...
By: buitiful | 01-07-2008
How does a Firm reconcile its internal and external environments?
Project
By: MrsLathan | 23-05-2008
what is a document design for a powerpoint?
Steve and his exboss
By: voterperson | 09-04-2008
Steve asked if I could email you a copy of the letter he wrote to the CEO back in December 2007. Only for the letter he is sending you he omitted the names of the people involved and the companies names. He replaced them with New Company, Old Company and Female Boss, as you will see when you read the letter. When you read the letter let me know what you think - GIVE details. Background: This female boss ever since she came aboard has done nothing but harass the staff and customers. If the staff would talk to one another throughout the day she would bother them about talking to one another and make them get back to work - it was like being in jail. The female boss has a way of twisting and turning the truth. This female boss has gotten people fired by lying (she even got Steve fired for unjust reasons). Then when Steve was unjustly fired he wrote this letter to the CEO at the Corporate headquarters. And followed it up with emails and phone calls. He spoke to the second and third in command. But he did not think this was enough so he sent this letter in February 2008 to the home address of the CEO. Then a couple of weeks after he sent the letter to the home address of the CEO, the female boss had her yearly review. Steve?s ex-coworkers said the female boss is much better, but has her moments, but they still don?t like her and want her out. Do you think she was put on warning? What do you think of the letter.December 22, 2007 RE: Female Boss - Branch Manager Dear Mr. CEO (New Company):First I want to say I was looking forward to being part of the New Company. But due to the fact that Female Boss was trying (and succeeded in getting me) fired I will not be able to be a part of the New Company family. AND NO I AM NOT A DISGRUNTLED EMPLOYEE. Female Boss has a way of twisting and turning the truth and deceiving the higher ups (Old company higher ups*). Also Female Boss is supposed to come in early and stay until closing. Female Boss comes into work at 9AM and leaves every day at 3PM or 4PM to go home - Eastern Standard Time.. Female Boss never does any work, Female Boss passes the buck to everyone else in the branch but takes all the credit. Here are some things she has done to customers and my coworkers (including me) :(1) I was safe deposit attendant. Even though my background is managerial. One customer (male) came into the branch to go into his box. I signed him in and he and I retrieved his box from the vault. When he went into the coupon room he realized that his cousin (male) was waiting on the banking floor. He asked me if I could watch his box while he would go and get his cousin. I told him that I could not do this but I could go and get his cousin, which I did. As his cousin was walking to the coupon room Female Boss ran after him. And as the coupon door closed, Female Boss knocked on the door and asked the cousin if he was on the signature card for the safe deposit box. The cousin said no he wasn?t so Female Boss kicked him out of the room. Of course the cousin and my customer was upset. I decided on my own to check with Retail Operations and they told me that only the person who is on the signature card can retrieve the box but that person can bring in as many people as they want into the coupon room. (2) And one couple came in with their five year old daughter to go into their safe deposit box. The daughter held my hand the entire time she was at our branch and walked with me wherever I went. Female Boss said to me in a nasty tone of voice: "You are not allowed to walk with her" The couple was upset because every time they came into our branch and I gave their daughter my undivided attention she came out of her shell and made many friends at school.(3) Female Boss told one of my coworkers when Female Boss and the coworker had a disagreement that this coworker needs to go to Cigna Behavioral health. And Female Boss printed out and handed to my coworker two pages off the Internet from the Cigna Behavioral Health website on who to contact at Cigna Behavioral Health.(4) About three weeks ago Sujanna (one of our Assistant Branch Managers) was at the branch managing alone, Female Boss left early to go home. And our coffee machine was broken so I told one of my coworkers I was going next door on my break to get coffee. Sujanna was looking for me . I came back about 10 to 15 minutes later and Sujanna comes running over and tells me I need permission to go out. We snapped at one another. Sujanna told Female Boss what happened and instead of Female Boss ignoring it or saying why don?t you and Steve work it out or the three of us could sit down and talk she called me in to her office with Sujuanna and wrote me up and threatened me. When I said to her how come you are not writing up Sujanna and telling her the same thing.. Female Boss said oh I am dealing with her. I said to her well if you wrote her up and are dealing with her the same way you are dealing with me then let me see the document that Sujanna has to sign concerning this incident and she said ?Don?t worry I am dealing with her? I don?t think there was a document. How come I was singled out and Sujanna got off scott free.(5) Then this past Monday because I did not stand across the street to watch my coworker open the branch because it was bitterly cold outside that is when Female Boss wrote me up and terminated me. She twisted and turned the incident to the Old Company higher ups and my side was never asked. AND THE ONLY REASON I WAS THERE THAT EARLY IS BECAUSE OUR BRANCH HAS A WEEKLY MONDAY MORNING MEETING OTHERWISE I WOULD BE THERE AT 8:30AM. AND NO ONE IN MY BRANCH WANTS THIS MEETING EXCEPT Female Boss.(6) About two weeks ago in the morning I asked Female Boss if her scotch tape dispenser needs scotch tape and she replied: I am a grown woman I don't need any one asking me if I need scotch tape. Let me tell you on a professional level I am here just to work. (7) My coworkers are so afraid to have conversations with one another because they are so afraid that Female Boss is going to say something or write them up.(8) CUSTOMERS ARE CLOSING THEIR ACCOUNTS LEFT AND RIGHT AND OPENING THEM UP IN OTHER BANKS (I.E. HSBC, CITIBANK, ETC) IN OUR AREA. And the reason is because they do not like the way Female Boss treats them.(9) Last year the our Branch was closing at 3PM due to the fact the computers were being upgraded. Due to the fact that I did not know we had to stay a little later I told my mom that I would pick her up at 3:30PM. Female Boss told me around 2 to 3PM I could not leave early I had to wait until everyone left. I told her I made arrangements to pick my mom up at a bus stop and there wasn?t any way I could get in touch with my mom. Yet that day Female Boss left at 3:15PM. My mother at the time was 80 years old. Priscilla (our other Assistant Manager) was kind enough to let me leave to go get my mom. Priscilla said to me and (and told Female Boss the next day) ?Steves mother is 80 How can Steve leave his 80 year old mother on the street corner.?(10) A few months ago Female Boss yelled at one my coworkers in front of a customer. This coworker is a teller and she had a customer at her window. And then not to long ago Female Boss told this coworker of mine that this coworker is very unprofessional. Please keep in mind this coworker is the most professional person I know and she is quieter than a church mouse trying to avoid a cat.You have to understand something I have tried (in the past) to talk to the higher ups at Old Company, even Old Company Human Resources but they always take her side. Telling me to mind my own business. And the kicker is after this happened I was told by the Old Company higher ups I should have come to the Old Company higher ups and my coworkers should have gone to them as well. In the past my coworkers were going to talk to the Old Company higher ups but didn?t because nothing would have been done. The Old Company higher ups think Female Boss is right and we are wrong. Female Boss has made trouble in the other branches she used to work at. One person that worked with her at another branch said ?Thank God she is no longer at our branch?.I really think I was fired unjustly when my side was not even asked. Female Boss plays judge and jury and hands down a verdict and deceives the Old Company higher ups into thinking she is right and the staff is wrong and are dim-witted. The reason Old Company (not New Company) said that I was terminated was because this past Monday when the branch was to be opened I said that I would not be the lookout because it was cold outside. I think this is unfair to fire me because of this. I was told that I put my life and the person opening the branch at risk.. And this was reviewed by Old Company HR Counsel, and Old Company HR Counsel decided to terminate me without even speaking to me. Instead of being fired the individuals who know how to open a branch should have said ?Steve lets sit down and go over the procedure for the future. First of all I really do not know branch opening and closing procedures. KEEP IN MIND HR WOULD NOT HAVE KNOW ABOUT THIS IF Female Boss WOULD HAVE JUST SAT DOWN WITH ME AND GONE OVER THE PROCEDURES WITH ME. ALSO I SINGLE HANDLEY ORGANIZED THE ENTIRE BRANCH. I ALPHABETIZED ALL THE SIGNATURE CARDS (SAFE DEPOSIT SIGNATURE CARDS AS WELL AS THE SIGNATURE CARDS BEHIND THE TELLER AREA) ; I ORGANIZED THE BUSINESS FILES IN THE FILE CABINETS, I ORGANIZED THE STORAGE ROOM.Thanks for reading and please HAVE A REPRESENTATIVE FROM NEW COMPANY MEET WITH EVERY EMPLOYEE IN THE BRANCH. DO NOT GO BY THE OLD COMPANY HIGHER UPS AND Female Boss THEY WILL ONLY TWIST AND TURN HOW SHE TREATS THE STAFF.Sincerely,Steve
What is a published application system check
By: tmitchem | 03-04-2008
what is a published application system check
Q&A Powered by:
Latest Management Articles
Multi-cultural Workplaces: 7 Ways to Make Them Work
By: Joanna Penn | 25/07/2008
Nowadays, people work in global offices with colleagues from different worldviews, religions and attitudes. It is important to be aware of cultural differences and how they affect team dynamics, communication and management style. Multi-cultural workplaces also offer a wealth of new experience and self-growth opportunities. Here are 7 ways to improve multicultural relationships in your workplace.
Are You the Worst Leader in the World?
By: Steven Sonsino | 25/07/2008
The biggest single hurdle preventing employees from increasing their performance is their bosses.
The Ultimate Leadership Strategy
By: Steven Sonsino | 25/07/2008
Most executives know they should put poeple first. So why don't they?
How to Learn from Your Leadership Mistakes
By: Steven Sonsino | 25/07/2008
Success can stop you learning, but mistakes can kickstart change.
The Philosophy Of Six Sigma
By: Tony Jacowski | 25/07/2008
For years, many companies have worked hard in their attempt to achieve high profitability levels in their businesses. Business leaders are constantly on the lookout for new ideas that will have sustainable improvements over a larger period of time. For an integrated approach and to find the right tools for overcoming such issues, Six Sigma has come into limelight.
Merging Six Sigma And The Balanced Scorecard
By: Tony Jacowski | 25/07/2008
Every business leader wants to take their company to higher levels of profitability. This is accomplished by taking all stakeholders on the route of satisfaction by providing good value products or services. In this attempt, improving existing processes and developing new processes or products wherever required is one solution that a Six Sigma initiative can bring about.
Six Sigma: Phases Of Benchmarking
By: Tony Jacowski | 25/07/2008
On a Six Sigma project, you would generally face questions such as: how well is your organization doing? How do you compare to others? Are the best practices being used? - and so on. But, the real question is who comparisons are being made with.
Six Sigma Team Recognition And Rewards
By: Tony Jacowski | 25/07/2008
It is human nature to feel good and motivated to work further if a job well done is rewarded or recognized - even in a small way. In companies, it can prove to be of high value and encouragement for employees to work hard. Rewards give them the message that they are valued for their contributions - and that proves to be a good enabler for further sincere effort.
More from Rajkamta
The Paradox of Sarah Kane
By: Rajkamta | 27/03/2008 | Writing
There are some who believe that the world lost one of its finest late 20th century dramatists when Sarah Kane committed suicide in 1999. Her work produced extreme reactions in critics and audiences alike but many failed to appreciate the pure poetry of her writing until it was
7 Tips for Product Enhancement to Increase Your Sales
By: Rajkamta | 27/03/2008 | Business
You may publish this article in your ezine, newsletter on
your web site as long as the byline is included and the
article is included in its entirety. I also ask that you
activate any html links found in the article and in the
byline
Marketing Through Mobile Marketing & Marketing Tip for the Beginning Entrepreneur
By: Rajkamta | 26/03/2008 | Home Business
What can mobile marketing do for your business? Really what you should say is what can it not do for you? This high tech, amazingly simple marketing plan can transform virtually any business. Without marketing, what does your company have? As any business owner knows, telling your market that you are there is the most important thing to do in the first place. Secondly, you need to tell them that you have just what they need to better their lives. Third, you need to tell them about it when they a
Small Business Debt Collection Letter Writing
By: Rajkamta | 24/03/2008 | Small Business
Writing a debt collection letter is one of the most important skills of any small business owner. Do you have what it takes to get the money you’ve earned?
I have a confession: I'm a business writer who's let clients get away with not paying me--a huge sign of failure of my writing abilities.
Plan a Chinese New Year Party to Ring in the Year of the Monkey
By: Rajkamta | 19/03/2008 | Cooking Tips
If you went to China to ring in the new year, you’d be overwhelmed by a frenzy of family, festivities, food and fireworks! On Jan. 22, as the Chinese say goodbye to the Year of the Ram, you can bring a little bit of China into your home by celebrating the beginning of the Year of the Monkey. A vivacious, inquisitive creature, the monkey indicates that the new year will be full of passion, liveliness and prosperity!
5 Hidden Resources for Ebay Users
By: Rajkamta | 19/03/2008 | Home Business
Many thousands of people making a living both buying & selling on eBay. Currently ranked as the 37 biggest sites on the net (according to Alexa figures) eBay shows no signs of slowing down, even fortune 500 companies are opening eBay shops to sell surplus & unwanted stock. The following are five resources that I use personally & encourage you to use them to increase your eBay profits with ease.
A Home Based Business That Works
By: Rajkamta | 18/03/2008 | Business
Everyone seems to be trying to work from home today. With the success most people are having from running a home base business everyone wants to get in on it. I myself have started up a home based business, but I keep my full time job. I have the time and freedom to do what I want to my business when I want.
Used Cars for Sale on Ebay
By: Rajkamta | 18/03/2008 | Accessories
There are thousands of used cars for sale on eBay every
single day. In fact, eBay Motors is the most profitable
sales division on eBay and naturally there are many
entrepreneurs who are interested in jumping into this
market. For instance, eBay claims it sells an SUV every nine
seconds and is the biggest online car dealer in America,
exceeding the traditional car companies
Business 
